America may well be only halfway through the house-price bust ........The biggest uncertainty hanging over the economy is how red will things get. Excerpt from the article: "The answer is not simple. For a start, it is hard to be sure just how much house prices have fallen. America has several house-price indices and they tell different stories. Widely cited, but least useful, are monthly figures showing median home prices produced by the National Association of Realtors (NAR). These indicate that median prices are down some 13% from their peak, but since these averages do not adjust for the mix of homes changing hands, which fluctuates from month to month, they are inevitably distorted. "

So flawed logic is their answer? They may have a point if the figures don't take into account new home sales and sale without using a REALTOR.


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